How Obie is Automating Insurance with Aaron Letzeiser, Ep 86

Journey to Multifamily Millions

Mar 7 2024 • 34 mins

Today's guest is Aaron Letzeiser, Aaron is the Co-Founder & COO of Obie, a venture-backed insurance and risk management technology platform serving over 17 million real estate investors in the United States.

He emphasizes the relevance of replacement prices in a property's coverage, as well as the need to update them on a regular basis to provide adequate coverage. Aaron additionally highlights the importance of property insurers providing risk-reduction recommendations in order to lower or sustain premiums.

Concluding, He advises investors to verify insurance amounts on property proformas and discusses the possibility for returns in high-rate conditions.

Episode Topics

[01:15]  Meet our guest, Aaron Letzeiser
[02:44] The Birth of Obie
[06:22] The Solution: Obie's Approach
[11:25] The Future of Insurance in Real Estate
[16:27] Common Mistakes in Real Estate Insurance
[19:27] Tips for Real Estate Investors
[31:25] What is one red flag every investor should look out for?
[31:47] What is a myth about the real estate business?
[32:56] Connecting to Aaron

Notable Quotes

  • "At Obie, we empower real estate investors with clear insights and instant bindable quotes, making insurance a controllable expense." -Aaron Letzeiser
  • "Accidental landlordship is a valid start in real estate. Clichés exist for a reason—real estate remains recession-resistant as people always need a place to live." -Tim Little
  • "Frustrations led to Obie—addressing the lack of control in insurance. Customizability is key, especially in large commercial multifamily." -Tim Little
  • "Commercial real estate evolved, but insurance markets lagged. Small real estate investors need risk advocates who understand their long-term goals, not just an upsell." -Aaron Letzeiser
  • "At Obie, we filled the gap with instant underwriting for 1-4 unit assets. Technology brings transparency, predictability, and fair pricing to real estate insurance." -Aaron Letzeiser
  • "In real estate insurance, avoiding investor mistakes is crucial. Understanding property specifics is key to risk management." -Tim Little
  • "Underestimating replacement costs is the biggest insurance mistake. Investors must update policies to avoid being underfunded in case of a loss." -Aaron Letzeiser

👉Connect with  Aaron Letzeiser

👉 Connect with Tim

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